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2019 Montana Economic Development Report

Governor's Office of Economic Development

Montana is a special state – one that resonates with the very soul of the people who call it home. Its tall mountains, vast prairies, clean rivers, stunning lakes, and peaceful valleys have been an abundant home to people for thousands of years. However, the state’s harsh winters and the very real career trade-offs people had to historically make in order to live in Montana have been contributing factors to keeping the state’s population low. Increasingly however, jobs include geographic optionality that is allowing careermotivated professionals to have their cake and eat it too. With geography removed as a constraint in many professional fields through broadband connectivity, Montana is enjoying very strong in-migration, excellent growth in median wages, and very strong overall economic conditions.

Steeped in a rich history of agriculture, mineral extraction and tourism, the Montana economic mix is evolving to include a vibrant innovation economy with a nearly fanatical entrepreneurial spirit at its core. It’s these growing industrial sectors combined with the state’s unique history and landscape that will define Montana’s economy and population going forward. Boasting the 5th best tax climate in the nation, and extraordinarily good lifestyles, the state is seeing a strong influx of business from expensive coastal cities, as well as many promising home-grown ventures. As businesses perform objective reviews of the capital efficiency for their physical operations, it’s trivial to make a compelling case for locating in Montana. However, when one combines the monetary perspective with an unmatched quality of life, it’s easy to see why Montana is seeing such strong relocation interest from businesses and professionals alike.

 

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